Some Ohio divorce processes are very simple. Spouses may only own a few shared resources and may have a very easy time negotiating property division terms. Other times, couples preparing for divorce have complex marital estates. Resources ranging from executive...
Broadly speaking, when spouses divorce, each individual retains whatever property has been classified as “separate,” and both spouses either negotiate or litigate the division of “marital” or “shared” property. Most of the time, property owned by individuals before...
The greater the financial worth of a business, the greater the impact it will have on an upcoming Ohio divorce. Unless the business owner planned ahead and has an enforceable prenuptial agreement, the chances are good that they must take assertive steps to protect the...
Are you contemplating divorce and want to know how your separate property will be treated? Or are you contemplating marriage and want to best protect your separate property? In Ohio, separate property generally remains separate property. If, over time, the separate...
In determining the value of a real estate holding company, the valuator must look at the element of control. Control is the ability to influence or direct the finances of a business, the large decisions of a business, and the day-to-day operations of a business. ...
Sometimes, married couples start businesses together. Other times, one spouse has entrepreneurial dreams and the other supports them by continuing to work or managing the family affairs so that they can focus on their startup. One spouse might acquire a business...
A lot of financially complex divorces involve family businesses, whether those are largely controlled by one spouse or both. Unfortunately, the issues with valuation of the business are not easily resolved. First, couples have to agree on how the value will be fixed,...
Property division is often one of the most significant concerns people have when contemplating divorce in Ohio. They worry that they will have a hard time reaching an agreement with their spouse concerning how to split their assets. When judges decide what happens to...
An individual’s successful business will likely contribute substantially to their overall personal wealth. It may be their main source of income, and they may reinvest in their company regularly. Therefore, their spouse may try to lay claim to some of the business's...
Owning a business when you’re going through a divorce can be a complicated reality. Understanding state laws concerning the division of business assets during a divorce is crucial. The timing of when the business was started can have a significant impact on how assets...
